And if still in Spain, how long until it's in US and is shipping additional or is price landed? 

NEVER borrow from a 401K, you are taking pre-taxed dollars and paying it back with after tax dollars, you do not get to return the loan with pre taxed dollars, in addition, some 401K plans do charge interest and maybe even fees, and lastly if you get laid off for some reason, it is a distribution with all the "fun consequences: tax at the last dollar rate, and if you are under 59.5 there is also the additional 10% penalty.Personally I like the HELOC, however you can also sell stocks and do tax harvesting there to offset gains if that is an option

I’d appreciate any additional suggestions you might have! 

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

In addition, when you have leverage you have the other benefits which @Ali Boone mention.

Additionally, Fannie Mae and Freddie Mac will sometimes temporarily suspend the income cap on their HomeReady and HomePossible programs, which allow purchases with 3% down.

@Fulati Paerhati, sounds good, I sent a connect request with some additional information for you to consider.Look forward to connecting.

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

You're also able to work with the utility company to install an additional meter.

In addition, due to them being eligible for conventional non-commercial financing they typically have lower cap rate than 5 units and more.